Tax Code provides several strong incentives that make it exceptionally profitable for real estate investors to “both a lender and a borrower be!”

(do you need permits for any of the work - call the town to ask GENERAL INFORMATION about permits and such).k, so 12k in repairs and let's say 12k in closing costs = 24,000now let's just saaaayy, you'll have a mortgage payment, and i'll just throw a number out there to save time and typing = 2500 month (includes PITI)and you plan WORST CASE SCENARIO OF HOLDING TIME - 6 MONTHS= 15,000you sell it with a realtor = 3% comm at 300k = 9,000add it up = 48000 total cost of project soup to nutsso, you buy for 239k + 48,000 = 287,000 sell for 300k...profit = 13kbasic but you get the point - try this: you probably shouldn't pay more than 180,000 for it.

I realize that many people would real estate investing stressful, I would find it far more stressful to be at a 9 to 5 knowing that in order to make more money I would have to work more hours.For example, I just closed a home friday that I made a $17,000 net profit, That would be the equivalent to working a full year 2000 hours at $8.50 an hour, which alot of people do.

That's left up to the station.I do agree that the profits are exaggerated through not factoring in holding costs, closing costs, and miscellaneous fees.Either way, welcome to the conversations, Johnny.

I was wondering what the best way to go about this and making the most profit as possible.

When you get through you could easily spend $40K, $50K and really not be sure the house will sell in this market to make a decent profit for your trouble.

Establish what price you need to be at for profit.

When you speak of getting investors, keep in mind thatthey don't want a percent interest -- like 9% -- theywill be part-owners with you and will want their shareof the profits.

It sounds like it offers the biggest ROI in the shortest time frame, and if you were to continue to reinvest the profits over and over again into more and more and larger and larger condo conversions that you could do extremely well as opposed to just holding.

Do you build up your profits and save for another investment or do you pay down your debt on your loans that you have ?